According to the Glassdoor, the average company in the United States spends almost $4,000 to hire a new employee and about 24 days to fill the position.
The costs are many including sourcing candidates (job boards, career fairs, website postings, referral rewards, external recruiters, etc.), screening candidates by telephone and in person, testing (hard and soft skills) plus negotiating an acceptable offer. Add to that the cost of training which is estimated at $1,075 per learner according to the 2017 Training Industry Report and you are looking at a tidy sum to attract, train and retain top talent. If they leave for any reason, you are tasked with repeating this process (and cost) all over again.